Powerball

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Powerball

Postby count2infinity on Mon Nov 26, 2012 5:08 pm

so the powerball is up to $425 million. Who's getting some tickets?

Spoiler:
IB4 "ZOMG why do people buy tickets when it gets so high, your odds of winning are the same no matter what the jackpot is"
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Re: Powerball

Postby Shyster on Mon Nov 26, 2012 5:15 pm

My firm is holding a pool, as we usually do when the jackpot gets pretty high. I participate just because there’s no way I want to miss the opportunity of being part of a law firm winning the Powerball. I’m thinking the public response would be delicious.
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Re: Powerball

Postby thehockeyguru on Mon Nov 26, 2012 5:17 pm

Shyster wrote:My firm is holding a pool, as we usually do when the jackpot gets pretty high. I participate just because there’s no way I want to miss the opportunity of being part of a law firm winning the Powerball. I’m thinking the public response would be delicious.


I dont care for the notion of "getting in a pool". I figure whether you buy 1 ticket or 100 you roughly have the same odds.
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Re: Powerball

Postby count2infinity on Mon Nov 26, 2012 5:23 pm

thehockeyguru wrote:
Shyster wrote:My firm is holding a pool, as we usually do when the jackpot gets pretty high. I participate just because there’s no way I want to miss the opportunity of being part of a law firm winning the Powerball. I’m thinking the public response would be delicious.


I dont care for the notion of "getting in a pool". I figure whether you buy 1 ticket or 100 you roughly have the same odds.


you have better odds with 100 tickets. each ticket however has the same odds of winning.
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Re: Powerball

Postby Godric on Mon Nov 26, 2012 5:24 pm

thehockeyguru wrote:
Shyster wrote:My firm is holding a pool, as we usually do when the jackpot gets pretty high. I participate just because there’s no way I want to miss the opportunity of being part of a law firm winning the Powerball. I’m thinking the public response would be delicious.


I dont care for the notion of "getting in a pool". I figure whether you buy 1 ticket or 100 you roughly have the same odds.


This.

Your odds barely increase.

I bought a ticket (read: one ticket).
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Re: Powerball

Postby MRandall25 on Mon Nov 26, 2012 5:24 pm

I bought Mega Millions the last time it was really high and won nothing... Don't think I'll go for this unless it gets higher.
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Re: Powerball

Postby Godric on Mon Nov 26, 2012 5:25 pm

count2infinity wrote:
thehockeyguru wrote:
Shyster wrote:My firm is holding a pool, as we usually do when the jackpot gets pretty high. I participate just because there’s no way I want to miss the opportunity of being part of a law firm winning the Powerball. I’m thinking the public response would be delicious.


I dont care for the notion of "getting in a pool". I figure whether you buy 1 ticket or 100 you roughly have the same odds.


you have better odds with 100 tickets. each ticket however has the same odds of winning.


Obviously. However, my I feel satsified with spending 1 one dollar for a one in 600 million chance as opposed to a 100 dollars for a 100 in 600 million chance...

I would say I'm able to rationalize a dollar and not 100, but either way its not a rational decision :lol:
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Re: Powerball

Postby viva la ben on Mon Nov 26, 2012 5:46 pm

Try this link for a dose of reality
http://justwebware.com/powerball/powerball.html
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Re: Powerball

Postby shafnutz05 on Mon Nov 26, 2012 5:48 pm

Instead of looking at it like that, look at it this way. Your odds of winning the Powerball are roughly 1 in 175 million. If you are in a pool that buys 100 tickets, your odds increase roughly to 1 in 1.75 million. That is an extremely significant difference.

I still think it's a sucker bet, but the difference in odds isn't negligible.
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Re: Powerball

Postby the wicked child on Mon Nov 26, 2012 6:01 pm

For a few bucks, I would join in a pool or whatever if only because it would suck royally in the event that one of the tickets hit and I wasn't a part of it.
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Re: Powerball

Postby columbia on Mon Nov 26, 2012 6:01 pm

Maybe you could convince Admin to shell out $1 for every post you make?
That seems like a safer bet.
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Re: Powerball

Postby shafnutz05 on Mon Nov 26, 2012 6:08 pm

columbia wrote:Maybe you could convince Admin to shell out $1 for every post you make?
That seems like a safer bet.


Roughly 1 in 4300 chance. I am going to step outside and contemplate the futility of it all
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Re: Powerball

Postby Froggy on Mon Nov 26, 2012 6:13 pm

i don't play powerball because it's $2 a ticket.
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Re: Powerball

Postby Rylan on Mon Nov 26, 2012 6:16 pm

Could you imagine if everyone on LGP chipped into a pool? How sweet would that be for all of us to be millionaires (aside from those that already are)
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Re: Powerball

Postby Froggy on Mon Nov 26, 2012 6:18 pm

Rylan wrote:Could you imagine if everyone on LGP chipped into a pool? How sweet would that be for all of us to be millionaires (aside from those that already are)


i'll get that going. everyone, paypal me $2, and i'll be sure to tell you we didnt win as soon as the numbers are announced...


trollface.jpg
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Re: Powerball

Postby Hockeynut! on Mon Nov 26, 2012 6:33 pm

Clearly Shyster should be in charge of the LGP Powerball Pool.
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Re: Powerball

Postby TheHammer24 on Mon Nov 26, 2012 6:39 pm

Rylan wrote:Could you imagine if everyone on LGP chipped into a pool? How sweet would that be for all of us to be millionaires (aside from those that already are)

Until it hits and the lawyers figures out why we get it all. :twisted: :twisted: :twisted: :twisted:
Last edited by TheHammer24 on Mon Nov 26, 2012 6:45 pm, edited 1 time in total.
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Re: Powerball

Postby Rylan on Mon Nov 26, 2012 6:42 pm

It would be a non-verbal contract explicitly stating that all parties are entitled to an equal share. Any breach of contract would be grounds for a lawsuit.
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Re: Powerball

Postby TheHammer24 on Mon Nov 26, 2012 6:45 pm

Rylan wrote:It would be a non-verbal contract explicitly stating that all parties are entitled to an equal share. Any breach of contract would be grounds for a lawsuit.

If only it were that easy. :twisted: :twisted:

^ First post edited to reflect the "twisted" emoticon.
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Re: Powerball

Postby Rylan on Mon Nov 26, 2012 6:46 pm

:lol: over-simplifications are the best type of simplifications.
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Re: Powerball

Postby columbia on Mon Nov 26, 2012 6:47 pm

The last person I would trust in a lottery pool is an attorney. :pop:
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Re: Powerball

Postby TheHammer24 on Mon Nov 26, 2012 6:51 pm

columbia wrote:The last person I would trust in a lottery pool is an attorney. :pop:

Hahaha. That's the point I am making! 8-) 8-)
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Re: Powerball

Postby Shyster on Mon Nov 26, 2012 6:56 pm

columbia wrote:The last person I would trust in a lottery pool is an attorney. :pop:

Our pool usually has at least 30 of them.
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Re: Powerball

Postby columbia on Mon Nov 26, 2012 6:58 pm

Political scientists used to have a term for that:
http://en.wikipedia.org/wiki/Mutual_assured_destruction
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Re: Powerball

Postby penny lane on Mon Nov 26, 2012 7:03 pm

sure, I will buy five. against all odds, people win. :D
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